Germany pares
2005, 2006 growth estimates,
citing high oil prices

The German government Friday cut its 2005 and 2006 growth projections for Europe's largest economy, citing high oil prices that are weighing on the country's recovery.

The economics ministry said the government now expects gross domestic product to grow 0.8% this year as the basis for federal government budget plans, down from the 1% growth forecast given April 29. It stuck to its 2005 forecast range of 0.75%-1.25% growth.